Proof of Stake Shard Consensus combines two concepts to improve blockchain performance and scalability. Proof of Stake (PoS) is a mechanism where validators are chosen to create new blocks based on the number of coins they hold and are willing to “stake” as collateral. This method reduces energy consumption compared to Proof of Work, where miners solve complex puzzles.Shard consensus refers to dividing the blockchain into smaller, manageable pieces called shards. Each shard can process transactions independently, allowing multiple transactions to occur simultaneously. This division helps alleviate congestion and improve transaction speeds.By integrating PoS with shard consensus, the network not only maintains security and integrity through economically incentivized validators but also enhances scalability. As more shards are added, the network can handle a growing number of users and transactions more efficiently. Overall, Proof of Stake Shard Consensus aims to create a faster, more secure, and energy-efficient blockchain system.
Bank of Japan Weighs Additional Rate Hikes as Inflation Persists
The Bank of Japan will continue to raise interest rates if economic and price trends progress as expected, Deputy Governor